Sardine Market: Introduction
Sardine is a nutrient-rich, oily fish widely consumed by humans and as bait fish for larger fishes, sea animals, and other mammals. It is considered a healthy source of omega-3 fatty acids and is high in protein and calcium. Sardine has a wide distribution in Northeast Atlantic and the Mediterranean Sea. Sardine market is growing at a steady pace owing to the health benefits it provides including improved heart functions, maintaining cholesterol levels, immune system improvement, cardiovascular health, reduce the risk of Alzheimer’s disease, boost brain function, and lower the blood sugar level. The narrowing supply-demand balance existing in global markets for multiple species, with an entirely positive global economic outlook for the forecast period, suggest that the extensive strengthening of sardine demand will continue.
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Sardine Market: Dynamics
Fishes are the key source of omega-3 fatty acids and DHA, which are known globally as a key aspect in human health. Sardines are considered among the world’s healthiest kinds of seafood and until recently, have only had niche appeal. However, the sardine market has grown and gained significant popularity.
Commercially, sardines are caught for a range of uses including direct consumption, for bait, drying, canning, and smoking and reduction into fish meal. Though, the primary use of sardines is for human consumption. The growth of premium seafood has given rise to demand for organic certified sardine. Furthermore, the price of sardines is lower as compared to other fish species with the same nutritional values, which is anticipated to help the growth of the sardine market.
Sardine Market: Segmentation
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Sardine Market: Regional Outlook
The frozen sardines that are consumed directly or used in the making of numerous processed foods is leading in the global trade of sardine market. Aggregate global sardine demand picked up in 2017, assisted by advancing commercial settings in both developed and developing regions, plus the revival of some major evolving sardine markets such as Russia and Brazil.
By type, sardines are generally consumed fresh, but they are most commonly found canned since they are so perishable. The suppliers in the sardine market could emphasis on the canned segment as it seems a hot prospect in the forecast period.
With growing health concerns among consumer, more people than ever are turning to sardines as they are at the bottommost of the aquatic food chain, feeding on planktons and thus do not contain any metals like mercury, and other contaminants that can be found in the other fishes, which is a dominant driving force of the sardine market.
Countries having main sardine fisheries are Canada, England, Croatia, France, India, Italy, Japan, Morocco, Norway, Peru, Portugal, Spain, Turkey, and the United States. The outlook for the growth of the sardine market in these countries is increasing relatively at a healthier rate. In terms of Consumption, the APAC countries such as China and Korea are dominating the sardine market. Notably, China has continuously been the major market for sardine, primarily for its large seafood industry.
Sardine Market: Key Players
Some of the key players operating in the global sardine market are Season Brand, King Oscar, Beach Cliff, Crown Prince, Inc., Olig Seafood, Emilia Foods International, Litoralfish, Sea Gold SRL, Sanyo Corporation, DSI Foods Limited, Vialco Skourtopoulos S.A., Ocean Develop Seafoods, Inc., Dacheng International Trade Co.,Ltd., P Interfood, Mikado Foods, Bumble Bee Foods, Ongreen Thailand Co., Century Pacific Food, among others.
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